Even through a time of transition, Penn State's football program ranks among the most valuable in the nation, according to a valuation done by Indiana University-Purdue University Columbus professor Ryan Brewer. The results were shared yesterday by the Wall Street Journal.

According to Brewer's valuations, Penn State is worth $377.5 million, which ranks No. 14 in the nation. Texas ($875 million), Notre Dame ($811.5 million), Michigan ($685.5 million), Ohio State ($674.8 million) and Florida ($660.8 million) were recognized as the five most valuable programs in the country.

Brewer studied each program's revenues, expenses and risk factors while projecting growth to arrived at his dollar figures. In terms of valuation, the Nittany Lions are rising up the rankings, having checked in at No. 16 with a value of $300.8 million at this time last year.

But Penn State has hope on the horizon and still checks in among the nation's leaders in home attendance. NCAA sanctions are being lessened and many anticipate a reduction in a bowl ban expected to cover the next two seasons. The projected revenues that come with a postseason berth can help the bottom line.

The Nittany Lions are, however, at another crucial time in the program's future after coach Bill O'Brien left for the NFL after just two seasons. Just three assistants remain on staff as a committee searches for O'Brien's successor. Recruiting efforts are in a holding pattern less than a month before National Signing Day.

But the allure of Penn State remains strong nationally, and if Brewer's study holds true, the program has the might to withstand a few bumps in the road.